Elite Chinese Politics and Political Economy

We have some rotations in the banking sector. I am beginning to detect a pattern where middle level and senior regulators and officials get to rotate to a commercial bank, where they enjoy a few years of high salary. Then, they can either choose to stay or return to poverty. If this can reduce corruption, I think that would be a pretty good system. So, Tang Shuangning, the vice chair of CBRC, will rotate to head the Everbright Group, while Xiang Jinbo, the vice governor of the PBOC and the head of the PBOC Shanghai branch, will head the Agricultural Bank of China. This repeats the rotation of a well-known technocrat(Guo Shuqing) to a crucial bank reform case (CCB). The ABC restructuring is running into some problems, and Xiang was picked as the person to deal with the conflicting demands between the policy burden of financing rural development and bank commercialization and listing. Meanwhile, Citibank will have to contend with Xu Feng, a CBRC official who will head the Shanghai Pudong Development Bank, in which Citibank has ownership. I am glad that these technocrats get to earn some money for their kids'college tuition! Someone else will have to take care of those expensive boarding school fees......

唐双宁将掌舵光大集团
http://www.sina.com.cn 2007年06月21日 03:40 中国证券网-上海证券报

　　⊙本报记者 苗燕

　　不久前还在第三期农村信用社省联社理（董）事长和高级管理人员培训班上，对目前国内的宏观经济形势指点江山的银监会副主席唐双宁，不久将拥有一个新的身份。记者从相关部门证实，唐双宁将于近日接替王明权出任光大集团董事长之职。

　　此外，另外两位来自监管机构的领导，央行副行长兼央行上海总部主任的项俊波和银监会银行监管三部主任徐风也将分别履新中国农业银行行长及浦东发展银行行长之职。而农行行长杨明生将出任保监会副主席之职。

　　业内人士指出，尽管此次变动使得唐双宁和项俊波从监管者的角色转换为被监管者，但两人身上的重担不但没有减轻，反而加重了。

　　光大集团是国内最早的金融混业经营机构。而正在谋求上市的光大银行，也需要更强的助推器。唐双宁恰好在这方面拥有独特的背景和社会关系。

　　而项俊波的任务则更加棘手。农行改革的框架性方案即将出台，此后繁琐而漫长的农行改革工作，都将在项俊波的领导下去一一破解。